ONLY one-third of engineers believe Ireland's semi-state companies should be sold to generate revenue for the Exchequer, according to research carried out by Ipsos MRBI.

The research was revealed at the launch of the Engineers Ireland Annual Conference 2011. "A critical challenge for the new Government is how to manage the various state assets with regard to how they are used to facilitate Ireland's economic recovery," John Power, director general of Engineers Ireland said.

Panel stops BP and Rosneft alliance

AN ARBITRATION panel has stopped BP and Rosneft from forming a strategic alliance, the local shareholders in BP's Russian venture TNK-BP said last night. "We won," a spokesman for Alfa-Access-Renova (AAR), which represents a group of tycoons who own half of TNK-BP, told Reuters. The panel ruled on the case after AAR won a temporary injunction from a London court against the deal.

Unicare opens new store in capital

THE Celesio-owned Unicare chain continued its makeover yesterday as it opened the latest of its DocMorris stores, in Blanchardstown, Dublin. All the Unicare pharmacies in Ireland, of which there are more than 70, are being rebranded under a €15m investment programme.

Retail down in UK after price hikes

UK RETAIL sales fell by 0.8pc between January and February after shops pushed rises delayed from the beginning of the year onto customers, sending prices up at the fastest pace since records began. Analysts had expected the volume of monthly sales to fall by 0.6 per cent, and a yearly rise of 2.3pc compared to February last year. However, annual volumes rose by only 1.3pc. Retailers had delayed lifting prices in January to help sales following a VAT increase and to make up for poor December trade when the coldest winter for 100 years hit sales.